Bangkok: The Board of Investment (BOI) has informed Thai and foreign investors that they are ready to proceed with their investments following the US announcement of a 19% import tariff on Thailand. The company emphasized that Thailand remains a strong investment magnet in the region, with its strengths in infrastructure and integrated supply chains, ready to support the investment surge in the new world of trade.
According to Thai News Agency, Mr. Narit Therdsteerasakdi, Secretary-General of the Board of Investment (BOI), revealed that the US announcement of a 19% tariff on Thailand, down from the previous rate of 36%, is good news and positive for investment. This tariff rate makes Thailand competitive compared to other countries in the region. Many investors in targeted industries have expressed confidence and are ready to invest in Thailand, believing that Thailand can meet the investment needs amid the changing global economy and has the potential to create supply chains for future industries.
The public and private sectors have been working closely together to develop the ecosystem, reduce barriers, and create new business opportunities to align with rapidly changing technologies. The BOI is accelerating promotion of five key target industries: biotechnology and the circular economy (BCG), electric vehicles, semiconductors and advanced electronics, digital technology and artificial intelligence (AI), and international business hubs. Thailand's five key strengths are ready to support the wave of investment in new industries, including quality infrastructure, a comprehensive supply chain for target industries, highly skilled personnel, government support measures, and opportunities to enter the global market.
"The 19% tariff rate from the US is a competitive rate for Thailand and a positive investment driver. The clearer outlook will encourage investors to invest in Thailand. Thailand's strong fundamentals, supply chain readiness, qualified workforce, and supportive measures from the Board of Investment (BOI) and other government agencies will ensure that Thailand remains a prominent investment base in the region, with significant potential for further development into new industries utilizing advanced technology, creating sustainable long-term benefits for Thais," said Mr. Narit.